DBMF vs. NOVO-B.CO

Last updated Jun 13, 2026

DBMF (iMGP DBi Managed Futures Strategy ETF) is Systematic Trend fund actively managed by iM Global Partners, while NOVO-B.CO (Novo Nordisk A/S) is a stock. Over the past 5 years, DBMF returned 8.01%/yr vs 19.41%/yr for NOVO-B.CO. At a 0.06 correlation, their price movements are largely independent.

Performance

DBMF vs. NOVO-B.CO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iMGP DBi Managed Futures Strategy ETF (DBMF) and Novo Nordisk A/S (NOVO-B.CO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

DBMF is traded in USD, while NOVO-B.CO is traded in DKK. To make them comparable, the NOVO-B.CO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, DBMF achieves a 10.27% return, which is significantly higher than NOVO-B.CO's -10.15% return.

DBMF

• 1D: 0.26%
• 1M: -1.34%
• YTD: 10.27%
• 6M: 11.24%
• 1Y: 26.94%
• 3Y*: 9.64%
• 5Y*: 8.01%
• 10Y*: —

NOVO-B.CO

• 1D: 1.53%
• 1M: -5.28%
• YTD: -10.15%
• 6M: -8.95%
• 1Y: -41.84%
• 3Y*: 6.83%
• 5Y*: 19.41%
• 10Y*: 17.63%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DBMF vs. NOVO-B.CO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DBMF iMGP DBi Managed Futures Strategy ETF	10.27%	13.85%	7.24%	-8.94%	21.61%	11.49%	1.80%	10.51%
NOVO-B.CO Novo Nordisk A/S	-10.15%	-39.54%	-15.04%	214.95%	23.90%	65.39%	27.16%	23.83%

Correlation

The correlation between DBMF and NOVO-B.CO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.02
Correlation (All Time) Calculated using the full available price history since May 8, 2019	0.06

The correlation between DBMF and NOVO-B.CO shifts across timeframes, from 0.02 (5 years) to 0.14 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

DBMF vs. NOVO-B.CO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DBMF

DBMF Risk / Return Rank: 84
DBMF Sharpe Ratio Rank: 81
DBMF Sortino Ratio Rank: 76
DBMF Omega Ratio Rank: 87
DBMF Calmar Ratio Rank: 88
DBMF Martin Ratio Rank: 87

NOVO-B.CO

NOVO-B.CO Risk / Return Rank: 13
NOVO-B.CO Sharpe Ratio Rank: 10
NOVO-B.CO Sortino Ratio Rank: 14
NOVO-B.CO Omega Ratio Rank: 12
NOVO-B.CO Calmar Ratio Rank: 13
NOVO-B.CO Martin Ratio Rank: 17

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DBMF vs. NOVO-B.CO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iMGP DBi Managed Futures Strategy ETF (DBMF) and Novo Nordisk A/S (NOVO-B.CO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DBMF	NOVO-B.CO	Difference
Sharpe ratio: Return per unit of total volatility	2.22	-0.77	+2.99
Sortino ratio: Return per unit of downside risk	2.92	-0.89	+3.81
Omega ratio: Gain probability vs. loss probability	1.47	0.88	+0.59
Calmar ratio: Return relative to maximum drawdown	4.50	-0.79	+5.29
Martin ratio: Return relative to average drawdown	16.30	-1.17	+17.48

DBMF vs. NOVO-B.CO - Sharpe Ratio Comparison

The current DBMF Sharpe Ratio is 2.22, which is higher than the NOVO-B.CO Sharpe Ratio of -0.77. The chart below compares the historical Sharpe Ratios of DBMF and NOVO-B.CO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DBMF vs. NOVO-B.CO - Drawdown Comparison

The maximum DBMF drawdown since its inception was -20.39%, smaller than the maximum NOVO-B.CO drawdown of -74.86%. Use the drawdown chart below to compare losses from any high point for DBMF and NOVO-B.CO.

Drawdown Indicators

	DBMF	NOVO-B.CO	Difference
Max Drawdown Largest peak-to-trough decline	-20.39%	-74.86%	+54.47%
Max Drawdown (1Y) Largest decline over 1 year	-6.10%	-54.48%	+48.38%
Max Drawdown (3Y) Largest decline over 3 years	-15.60%	-74.86%	+59.26%
Max Drawdown (5Y) Largest decline over 5 years	-20.39%	-74.86%	+54.47%
Max Drawdown (10Y) Largest decline over 10 years	—	-74.86%	—
Current Drawdown Current decline from peak	-1.91%	-67.88%	+65.97%
Average Drawdown Average peak-to-trough decline	-6.56%	-12.38%	+5.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	36.72%	-35.04%

Volatility

DBMF vs. NOVO-B.CO - Volatility Comparison

The current volatility for iMGP DBi Managed Futures Strategy ETF (DBMF) is 2.71%, while Novo Nordisk A/S (NOVO-B.CO) has a volatility of 12.08%. This indicates that DBMF experiences smaller price fluctuations and is considered to be less risky than NOVO-B.CO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBMF	NOVO-B.CO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.71%	12.08%	-9.37%
Volatility (6M) Calculated over the trailing 6-month period	10.00%	40.71%	-30.71%
Volatility (1Y) Calculated over the trailing 1-year period	12.35%	55.70%	-43.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.55%	58.93%	-46.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.41%	45.48%	-33.07%

Dividends

DBMF vs. NOVO-B.CO - Dividend Comparison

DBMF's dividend yield for the trailing twelve months is around 5.19%, more than NOVO-B.CO's 4.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBMF iMGP DBi Managed Futures Strategy ETF	5.19%	5.91%	5.75%	2.91%	7.72%	10.38%	0.86%	9.35%	0.00%	0.00%	0.00%	0.00%
NOVO-B.CO Novo Nordisk A/S	4.07%	3.58%	1.59%	1.01%	2.38%	2.54%	4.03%	4.22%	5.27%	4.54%	7.38%	2.50%

Frequently Asked Questions

Can I hold both DBMF and NOVO-B.CO in my portfolio?

DBMF and NOVO-B.CO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.